One of the UK's biggest banks, NatWest, has been forced to accept a takeover bid from a smaller rival, Royal Bank of Scotland. The outcome of this bitter struggle sets the tone for a long overdue round of consolidation in the financial sector, as it prepares for a new age of fierce global competition.

NatWest finally gives in
Royal Bank of Scotland clinches victory in the long-running struggle for control of NatWest - pipping at the post its rival Bank of Scotland, which had sparked the battle with an audacious hostile takeover bid.